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Dec 31, 2022
Inovio Q4 2022 Earnings Report
INOVIO reported financial results and provided a business update.
Key Takeaways
INOVIO reported Q4 2022 financial results, with a total revenue of $125,000 and a net loss of $54.5 million, or $0.22 per share. The company ended the year with $253 million in cash, cash equivalents, and short-term investments, maintaining its cash runway projections into the first quarter of 2025.
Announced topline results from REVEAL2, a Phase 3 trial evaluating VGX-3100 for cervical HSIL, which did not meet the primary endpoint in the biomarker-selected population but achieved statistical significance in the all-participants population.
Highlighted positive preliminary data from Phase 1/2 trial of INO-3107 for Recurrent Respiratory Papillomatosis.
Reported positive Phase 1b data for INO-4201 as Ebola booster for Ervebo®.
Ended 2022 with $253 million in cash, cash equivalents, and short-term investments, maintaining cash runway projections to first quarter 2025.
Inovio
Inovio
Forward Guidance
INOVIO expects to maintain its cash runway into the first quarter of 2025, with an estimated cash burn of approximately $32 million for the first quarter 2023. Cash burn is expected to decrease incrementally from there into the first quarter of 2025.